SHANGHAI, Dec. 5 (SMM) – Industry news: Indonesian smelters will ship 800 mt of tin to Singapore this week, which means a tin export ban maintained by Indonesian smelters finally broke.
Shanghai spot tin prices remained weak during the week from Nov. 28th – Dec. 2nd, with the SMM average tin price dropping RMB 5,000/mt, or 2.87%, the largest loss among all base metals, from the previous week. Mainstream traded prices of spot tin had already dropped to RMB 165,500-168,000/mt. Some smelters began moving goods at lower prices due to capital pressure and month’s end and a bearish sentiment. Continuous losses were seen as other goods holders continuously sold at lower prices. Despite of lower tin prices, the traded volume remained light as demand stayed weak. As imported tin gradually arrives in domestic markets, market demand for domestic tin will be eroded. As for the present, spot tin prices have not shown any sight of stabilization and therefore may continue to slip.